Mortgage Money Saving Tips

by
Mortgage Money Saving Tip

It’s almost everyone's American dream to own your own home and dreamers will go to any lengths to accomplish this even if it means borrowing thousands of dollars to be paid back over a 30 year period. It’s quite an obligation to make 360 payments month after month with the bulk of the money going toward interest, at least in the beginning. Just paying interest on an average home over a 30 year period can account for twice the cost of the some homes. Unfortunately Interest is working … [Read more...]

Filed Under: Money Saving Tips, Mortgages and Real Estate

What to do with a Problem Loan

by

The reports paint a dark picture. According to the Mortgage Bankers Association more than 2.1 million Americans missed at least one payment on their home loan at the end of last year, taking the rate of new foreclosures to a record high. It’s even worse for borrowers with scuffed credit and adjustable-rate mortgages. More than 14 percent of them were behind on their payments. But the worst is yet to come according to the MBA. The association predicts that least $300 billion in subprime … [Read more...]

Filed Under: Mortgages and Real Estate

Refinancing Your House in Today’s Market

by

The days of 100 percent financing with no down payment are gone thanks to a record number of foreclosures and collapse of the sub-prime mortgage industry. Now if you are looking to refinance your house you will find the standards a lot tougher unless you have a FICO score roughly above 620 and a stable income. Most experts say that with a strong record of paying bills on time, a documented, steady income, you should be able to borrow easily and at a low rate. However if you find that you … [Read more...]

Filed Under: Mortgages and Real Estate
ShareBuilder